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One of the most vital aspects of a company´s long term success is the choice and cultivation of its future leaders. Yet how often do we see public examples of newly-crowned leaders failing spectacularly in jobs for which they have supposedly been meticulously prepared. The authors propose five rules for setting up an effective succession management system to provide a steady and reliable pipeline of leadership talent.
To learn more about how to sustain profitable growth, the authors studied nearly 2,000 companies over five years to establish key drivers of performance and growth. They revealed two major factors which were consistent across the higher performing companies.
Mahzarin R. Banaji / Max H. Bazermann / Dolly Chugh
Most people would consider themselves to be ethical and unbiased. Sadly though, the opposite is usually true, the frightening part being that these same people are completely unaware of this. The authors address the so-called “illusion of objectivity” under which most of us operate and make some suggestions on how to recognise and deal with the phenomenon.
A $6.000 shower curtain, a $15.000 umbrella stand. Just two of the items the former Tyco CEO placed in his apartment at company expense. Tyco, an industrial manufacturer, was one of a number of companies involved in scandal in 2002, the difference being that Tyco was and is profitable. A senior manager describes how they are cleaning up Tyco, going much deeper than just board level.
Judith Martin (alias Miss Manners) / Diane L. Coutu
Miss Manners is a leading writer on etiquette and has published ten books on the subject over the past 25 years. The article reproduces an interview with her, in which she gives some wise and sometimes provocative insights into why she believes that good etiquette and a degree of formality in business is still important.
Surprisingly, most companies do not examine their brand portfolios from time to time to check if they might be selling too many products, identify weak performers and kill-off unprofitable ones. Consequently, portfolios are often full of loss-making and marginally profitable brands. The author has studied brand rationalisation programmes at several companies and reports on his observations.
Forget complex customer satisfaction surveys, the author demonstrates that just one simple question is enough to give you clear insight into your customers´ loyalty and growth – what are they saying about you to their friends?
From the HBR Case Study series, a Chief Technology Officer of a retail menswear company has persuaded his senior colleagues to set aside the budget for an innovative customer relationship management software. But now that some of the desired functions of the tool look like they can´t be realised or will cost more, the support from the management team is dwindling. Four experts suggest what the CTO should do to save the project.
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